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What’s Poppin’?
by Brandy Betz and Samyuktha Sriram
Millions of dollars’ worth of ETH tied to the FTX hacker was on the move once again over the weekend.
One layer of defense may not be enough to combat the centralization risks present in some ETH staking pool operators, said the Ethereum cofounder.
Teneo, the bankrupt crypto hedge fund’s liquidator, had attained a committal order sentencing Zhu and his cofounder, Kyle Davies, to four-month sentences earlier this week.
On the Pod…
The trial of Sam Bankman-Fried, the founder and former CEO of bankrupt cryptocurrency exchange FTX, is set to begin tomorrow. The 31-year-old is accused of committing wire fraud and conspiracy to commit other types of fraud, in relation to the dramatic collapse of his crypto empire last year, which led to billions in losses.
Nik De, CoinDesk's managing editor for global policy and regulation, discusses the importance of jury selection, the potential testimony of key witnesses, and how many years Bankman-Fried may face if he is found guilty.
Daily Bits…✍️✍️✍️
🗣️ The DOJ plans to call former FTX executives and customers as witnesses against Sam Bankman-Fried, some of whom have pleaded guilty to related charges.
📋 FTX founder's defense team argued that the DOJ's proposed juror questions could introduce bias or prejudice before the trial starts.
🗨️ Judge Lewis Kaplan ruled that Sam Bankman-Fried can't blame FTX's lawyers in his opening statements but may use the "advice-of-counsel" defense later.
🔍The SEC filed a lawsuit against Prager Metis, FTX's former auditor, alleging violation of auditor independence rules and seeking fines and forfeiture of illegal profits.
👤 Michael Lewis claimed that SBF considered offering Donald Trump $5 billion to refrain from running for president.
🏛️ BlockFi nears completion of its bankruptcy restructuring plan, gaining more than 90% approval from its creditors.
🚫 Crypto exchange Gemini announced it will halt services in the Netherlands from November 17 due to regulatory requirements.
⚖️ The CFTC charged Mosaic Exchange and its founder with running a fraudulent digital asset scheme, affecting at least 17 people who invested hundreds of thousands of dollars.
The $$$ Corner…
What Do You Meme?
Recommended Reads
Should Ethereum be okay with enshrining more things in the protocol? By Vitalik Buterin
Kunal Goel on Ethereum’s staking rate
Unchained: What Is Liquidity Mining & How Does It Work?
📈 Your Market Update 📉
BTC is up 2.1%, trading at $28,305
ETH is up 2.8%, trading at $1,729
BTC dominance: 47.61%
Crypto market cap: $1.16T
*All data as of today, 7:08 am ET
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